$PFAN Listing on HotBit Feb 18! What You Should Know about our v1 to v2 PFAN Token migration

As we are building our creator coin and token marketplace, we are excited to have our token listed on HotBit Exchange.

Before you start buying or investing in PFAN, there are a few things that the PowerFan team thought you should know to help you prepare for what’s coming soon.

v2 $PFAN Token Features

v2 $PFAN is what is going to be listed on Hotbit. There are zero taxes on PFAN tokens for trading it back and forth within the exchange. However, when it is brought out of the Hotbit environment and into another wallet, there will be a 13% transaction tax on a part of the sender. Here is where the taxes go to:

  • 5% goes to the LP in UniSwap and any other DEX so support liquidity
  • 5% goes to a Marketing and Development wallet that will finance PowerFan develop more value-adding features on the platform
  • 3% goes to reflections to all other token holders currently holding PFAN tokens in proportion to their current holdings. Hold more PFAN, receive a greater share of the reflections created from each transaction.

Events that are taxed:

  • Sending PFAN from one wallet to another
  • Sending PFAN in or out of an exchange wallet
  • Selling PFAN on Uniswap

Events that are not taxed:

  • Buying/Selling PFAN within Hotbit
  • Buying PFAN on UniSwap
  • Staking PFAN
  • Purchasing NFTs using PFAN tokens (coming soon)
  • Purchasing Creator Coins using PFAN tokens (coming soon)
  • Staking PFAN to access content (coming soon)

Speaking of our Creator Coin Market… Here’s a preview of the dev team working on our creator coin creation and marketplace currently being tested on Mumbai TestNet on the Polygon Network

Currently Active on v1: Staking and Buying PFAN direct from PowerFan.io

If you are currently staking PFAN tokens on powerfan.io/staking using our old v1 tokens, you are safe. You may continue to stake as long as we have it available and you are ready to claim rewards and unstake.

PFAN Staking Currently Using v1 PFAN

We are currently working on a one-way portal that will allow users to take their current v1 PFAN tokens and then swap them permanently on a 1:1 basis for v2 PFAN tokens, so in the meantime, be sure you have a designated wallet to send v1 PFAN to and then migrate them over to the v2 PFAN when you are ready.

For those who created an account through Power Partners

Many of you who signed onto PowerFan with one of our many and growing list of Power Partners have token balances in your account for 100 tokens or more. We are working on a PFAN claim portal for you to get those tokens into your private wallets right now.

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